You can see which media the LG likes in the thread with quality scans.
In general, LG 4163B works best with top quality media like Verbatim MCC and Tayio Yuden. Verbatim TY should be fine.
With + media, you usually get more choices for burning speeds. For instance, TY T02 (8x +) can be burned at 12x, but TYG02 (8x -) can only be burned at 8x max. Both give excellent results.
What it does not like is most DL media, except for Verbatim. (Just like other good burners.)
About cd's: I have only tried TY cd's, no problem there.
Panasonic dvd-ram (basically the same as Verbatim) should work fine.